Standard Legal Obligations and Formalities for a Branch | Doing Business in India

Doing Business in INDIA, Establishing Company in India, Formation of an appropriate business, Standard Legal Obligations, Formalities for a Branch in India, Monthly TDS returns, Standard Legal Obligations in India
Standard Legal Obligations and Formalities for a Branch – Doing Business in India

BRANCH OFFICE

A. Filings:

  1. Yearly filings include the filing of audited accounts of Branch Office, World Accounts with Registrar of Companies.
  2. Yearly submission of Activity Certificate with RBI and AD Bank.
  3. Annual return with the Income Tax Department.
  4. Filing of Quarterly / Monthly TDS returns, VAT, Service Tax Returns.

B. Other Legal Obligations/Provisions:

  1. The Branch Office will not accept any deposits in India
  2. The commission earned by the Branch Office from parties abroad for any agency business will be repatriated to India through normal banking channels.
  3. The Branch office shall not undertake any retail trading activity
  4. A Branch Office is not allowed to carry out manufacturing or processing activities in India, directly or indirectly.
  5. The Branch Office is not allowed to borrow locally unless the prior approval of RBI is given.

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